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Exchange Rates

Permissions

Exchange rate can only be managed by users with System Administrator and Finance Manager roles.

About Multi-Currency

UNITE currently supports a maximum of 29 currencies. To assist the management of the 800 plus exchange rates combinations only base & target currencies used by the UNITE organisation (B2B Partner) are displayed.

  • Only base currencies are displayed that are used by all the sales channel within the UNITE organisation (B2B Partner).

  • Only target currencies are displayed that are supported payment currencies within the UNITE organisation (B2B Partner).

Note

Prices for all currencies will be set and calculated using the revised foreign currency exchange rate. To see when & how to update prices see page Product Sale Pricing.

Add a New Currency

To add a new currency, first check the list of supported currencies in the section [List of 29 Supported Currencies] below. If the currency is not listed contact the Tech Team to get the currency added to the UNITE deployment. This will involve a code change & a release deployment, so the work needs to be planned.

  • When the currency is listed as supported :

    • Contact Tech Team to get the currency added as to the PAYMENT_SUPPORTED_CURRENCIES in the UNITE Back Office application for the required UNITE Organisation (B2B Partner) & optionally the Sales Channel/s. This does not require a code change or release deployment.

    • When the supported payment currencies has been updated, the target currency will appear & prices can be calculated. To see when & how to update prices see page Product Sale Pricing.

Updating Exchange Rates

To refresh exchange rates,

  • First unlock the currency exchange rates you want to update.

  • Then select the Refresh All Rates command button. All unlocked exchange rates will be updated.

    • A unlocked exchange rate displays the Lock button.

    • A locked exchange rates displays the Unlock button.

  • Once the exchange rates have been updated, lock all the currency exchange rates.

    • This prevents the Exchange Rates being mistakenly updated by any user select the Refresh All Rates command button.

Note

No operator plan, product catalogue plan or sales channel plan price will be updated when any exchange rate is changed. To see when & how to update prices see page Product Sale Pricing.

List of 29 Supported Currencies

Currency Code Currency Name Exchange Rate Calculation Rounding
EUR Euro To 2 decimal places & Nearest 0.25
GBP Pound sterling To 2 decimal places & Nearest 0.25
USD United States dollar To 2 decimal places & Nearest 0.25
AUD Australian dollar To 2 decimal places & Nearest 0.25
CAD Canadian dollar To 2 decimal places & Nearest 0.25
ANG Netherlands Antillean guilder To 2 decimal places & Nearest 0.25
AWG Aruban florin To 2 decimal places & Nearest 0.25
BBD Barbados dollar To 2 decimal places & Nearest 0.25
BMD Bermudian dollar To 2 decimal places & Nearest 0.25
BRL Brazilian real To 2 decimal places & Nearest 0.25
FJD Fiji dollar To 2 decimal places & Nearest 0.25
KYD Cayman Islands dollar To 2 decimal places & Nearest 0.25
PAB Panamanian balboa To 2 decimal places & Nearest 0.25
PGK Papua New Guinean kina To 2 decimal places & Nearest 0.25
PLN Polish złoty To 2 decimal places & Nearest 0.25
RON Romanian leu To 2 decimal places & Nearest 0.25
TOP Tongan paʻanga To 2 decimal places & Nearest 0.25
TTD Trinidad and Tobago dollar To 2 decimal places & Nearest 0.25
WST Samoan tala To 2 decimal places & Nearest 0.25
XCD East Caribbean dollar To 2 decimal places & Nearest 0.25
XCG Caribbean guilder To 2 decimal places & Nearest 0.25
GYD Guyanese dollar To 1 decimal place & Nearest 1.0
HTG Haitian gourde To 1 decimal place & Nearest 1.0
INR Indian rupee To 1 decimal place & Nearest 1.0
JMD Jamaican dollar To 1 decimal place & Nearest 1.0
MXN Mexican peso To 1 decimal place & Nearest 1.0
SRD Surinamese dollar To 1 decimal place & Nearest 1.0
TRY Turkish lira To 1 decimal place & Nearest 1.0
VUV Vanuatu vatu To 1 decimal place & Nearest 1.0

Edit Currency Exchange Rate

To edit a base currency rate,

  • Navigate to the Exchange Rates page

  • Select one of the base currencies from the currency drop-down list & click the Apply Filters button.

    • The table will display all currencies that UNITE currently supports.

  • Select the Unlock button for each currency to unlock the exchange rate

  • To get the updated exchange rate, click the Refresh Filtered Base Currency button. A Saved prompt will display.

    • The exchange rates of all filtered currencies are updated.

  • Select the Lock button for each currency to lock the exchange rate

To edit a target currency rate, see section Updating Exchange Rates above.

Note

If a user changes the exchange rate manually, the exchange rate will automatically become locked.

When an exchange rate is locked, it will not change even if the exchange rate from FX has been updated manually.

Exchange Rates Price Calculations

The base currency is the operator plan’s plan currency. The target currency is the currency the plan will be displayed in the online shop or point of sale.

The target currency price is calculated as [Base Currency Amount] X [Target Currency Exchange Rate]. The following rounding is then applied based on the rounding precision set for the currency.

Exchange Rate Price Calculated Rounding Applied Exchange Rate Price After Rounding Active
1.000 to 1.124 Nearest 0.25 1.00 Yes
1.125 to 1.374 Nearest 0.25 1.25 Yes
1.375 to 1.624 Nearest 0.25 1.50 Yes
1.625 to 1.874 Nearest 0.25 1.75 Yes
1.875 to 1.999 Nearest 0.25 2.00 Yes
1.000 to 1.499 Nearest 1.0 1 Yes
1.500 to 1.999 Nearest 1.0 2 Yes
1.000 to 1.249 Nearest 0.5 1.00 No
1.250 to 1.749 Nearest 0.5 1.50 No
1.750 to 1.999 Nearest 0.5 2.00 No

Note

The exchange rate will be only updated manually by an authenticated user.